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March 29, 2020
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Governments, central banks must boost efforts to help economies cope with crisis: BIS chief

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LONDON (Reuters) – Governments and central banks need to step up efforts urgently to support their economies in the face of the coronavirus crisis, the head of the Bank for International Settlements said on Sunday. FILE PHOTO: Bank of Mexico Governor Agustin Carstens gestures during the delivery quarterly report from......
Reuters - Business

Factbox: Carmakers churn out machines, masks to help fight coronavirus

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(Reuters) – Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines – everything from cloth face masks to sophisticated ventilator systems – to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia. Here......
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Apple’s factories are running, but suppliers wary about iPhone demand

Reuters
(Reuters) – As China reopens its economy after months of lockdown, Apple Inc’s (AAPL.O) iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new......
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Stocks down on virus’ economic toll; dollar falls further

Reuters
NEW YORK (Reuters) – Stocks across the globe fell on Friday after a historic three-day run-up, as skittish investors kept indices on track for their worst monthly and quarterly performances since 2008, while the dollar fell by the most in any week since 2009. Shares on Wall Street ended near......
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Global oil refiners shut down as coronavirus destroys demand

Reuters
SINGAPORE/NEW DELHI/SEOUL/LONDON (Reuters) – The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns. FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production......
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‘Maximum bearish’: funds in record rush to cash in past week

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LONDON (Reuters) – Investors rushed into cash and out of bonds at a record pace over the past week as the coronavirus pandemic caused mayhem in markets, BofA said on Friday, though it noted a key positioning signal at “maximum bearish” could signal a big rally ahead. FILE PHOTO: A......
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European shares fall as investors take stock of spreading virus

Reuters
LONDON (Reuters) – European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. FILE PHOTO: A general view shows the German share prize......
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Singapore Airlines latest to get massive bailout amid coronavirus crisis

Reuters
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: A Singapore Airlines plane sits on the tarmac......
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Asia stocks ride stimulus hopes higher but dollar left behind

Reuters
TOKYO (Reuters) – Asian stocks rose on Friday as investors wagered policymakers will roll out more stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record. FILE PHOTO: Passersby wearing protective face masks following an outbreak of the coronavirus disease (COVID-19) are reflected on a......
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Exclusive: U.S. prepares crackdown on Huawei’s global chip supply – sources

Reuters
(Reuters) – Senior officials in the Trump administration agreed to new measures to restrict the global supply of chips to China’s Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus. FILE PHOTO: A Huawei company logo is pictured at the......
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European shares fall as investors take stock of spreading virus

Reuters
LONDON (Reuters) – European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. FILE PHOTO: A general view shows the German share prize......
Reuters - Business

Singapore Airlines secures $13 billion to survive coronavirus and grow after

Reuters
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: An Airbus A380-800 aircraft of Singapore Airlines takes......
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Oil majors slash 2020 spending 20% after prices slump

Reuters
LONDON (Reuters) – The world’s biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia. FILE PHOTO: The sun is seen behind a......
Reuters - Business

Geely’s Volvo Cars warns virus outbreak to hit 2020 earnings

Reuters
FILE PHOTO – A Volvo logo is seen on a rim displayed at a Volvo showroom in Mexico City, Mexico April 6, 2018. REUTERS/Gustavo Graf STOCKHOLM (Reuters) – Sweden’s Volvo Car Group, owned by China’s Geely, scaled back its guidance for the full year, warning that sales, earnings and cash......
Reuters - Business

Instant View: U.S. jobless claims balloon to record on coronavirus impact

Reuters
NEW YORK (Reuters) – The number of Americans filing claims for unemployment benefits shot to record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the......
Reuters - Business

Asian stocks scratch gains but lose steam on U.S. job jitters

Reuters
SINGAPORE (Reuters) – Asian stocks eked out gains on Thursday, but the week’s rally lost steam as investors seemed torn between relief at the agreement of a huge U.S. stimulus package and dread over a likely spike in jobless claims and coronavirus cases. After last-minute negotiations, the Senate backed a......
Reuters - Business

China, U.S. to set aside differences in G20 coronavirus summit: SCMP

Reuters
BEIJING (Reuters) – China and the United States are expected to call a timeout on their coronavirus blame game and focus on the challenges of the pandemic when leaders of the G20 nations hold talks via video conference on Thursday, the South China Morning Post said. FILE PHOTO: A Chinese......
Reuters - Business

Asian stocks scratch gains but lose steam on U.S. job jitters

Reuters
SINGAPORE (Reuters) – Asian stocks eked out gains on Thursday, but the week’s rally lost steam as investors seemed torn between relief at the agreement of a huge U.S. stimulus package and dread over a likely spike in jobless claims and coronavirus cases. After last-minute negotiations, the Senate backed a......
Reuters - Business

U.S. stocks seesaw as vote awaited on stimulus deal

Reuters
NEW YORK (Reuters) – U.S stocks seesawed on Wednesday, digesting the previous session’s huge rebound, with investors torn as optimism about an imminent $2 trillion coronavirus package was offset by concerned about the lasting economic impact from the pandemic. [.N] FILE PHOTO: Traders work on the floor of the New......
Reuters - Business

Nike shares rise as Wall Street lauds recovery in China sales

Reuters
(Reuters) – Nike Inc (NKE.N) shares rose 8% on Wednesday after the sportswear maker’s impressive recovery in China sales offered hope that it was prepared to cope with the financial fallout of the coronavirus pandemic in other markets. FILE PHOTO: The Nike swoosh logo is pictured on a store in......

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